Laos Launches Gold Bank to Strengthen Financial Stability & Support Lao Kip

Laos is set to launch its first Gold Bank next month, an initiative aimed at bolstering gold reserves and enhancing the financial stability of the Lao Kip. The establishment of the “Lao Bullion Bank” is a result of a recent agreement between the Lao Ministry of Finance and PTL Holding Co., Ltd., with the full range of services expected to be operational by the end of November 2024, according to The Laotian Times.

The Gold Bank will offer gold deposit services to individuals and businesses while playing a crucial role in the country’s gold market. Chanthone Sitthixay, President of PTL Holding, highlighted that this bank will provide vital financial services and create new opportunities within the gold sector.

Finance Minister Santiphab Phomvihane emphasised the significance of gold in the nation’s economic framework, noting its potential to drive socio-economic development and address financial challenges. He further stated that the Gold Bank will assist in raising funds and strengthening the value of the Lao Kip.

- Video Advertisement -

Related Post

Exciting Prospects for Cambodian Agricultural Exports

In a significant development for Cambodia’s agricultural sector, Angkor International Airport Investment (Cambodia) Co., Ltd. (AIAI) has expressed a strong interest in investing in the export of Cambodian agricultural products to China and other international markets. This announcement was made during a productive meeting on April 7, 2025, between HE Minister Dith Tina and Mr. […]

Cambodia Achieves Over USD 23 Million in Ticket Sales Within Four Months

Cambodia’s tourism sector is showing remarkable signs of recovery, with ticket sales to renowned attractions generating over USD 23 million from January to April 2025. The figure reached a remarkable USD 23,154,532, stemming from interest in iconic sites such as Angkor Wat, Koh Ker Temple, Beng Melayu Temple, Phnom Kbal Spean, and scenic boat rides. […]

Cambodia Exports Nearly 12 million Tons of Agricultural Products, Generating USD 5.2 Billion in 2024

In a significant boost for the agricultural sector, Cambodia reported impressive figures for 2024, with exports of nearly 12 million tons of farm products valued at USD 5.2 billion. This announcement was made by His Excellency Kong Chanveasna, Secretary of State of the Ministry of Agriculture, Forestry and Fisheries, during the inauguration ceremony of a […]

Khmer New Year Sees Surge in Tourist Arrivals

  In an impressive display of cultural celebration, Cambodia welcomed approximately 23,977,441 tourists during the three-day Khmer New Year festivities, marking a robust increase of 9.9% compared to 2024. This significant influx, comprising both national and international visitors, was reported by the Ministry of Tourism today. From 14-16 April 14 2025, the country witnessed a […]

Cambodia’s Steel Imports Surge in Early 2025

Cambodia’s steel imports significantly rose in the first quarter of 2025, with the nation importing iron and steel valued at USD217 million. This marks a remarkable 75% increase compared to USD124 million during the same period last year. According to a report released on 10 April by the General Department of Customs and Excise, iron […]

ADB Forecasts Sustainable Economic Growth for Cambodia in 2025 & 2026

In a promising outlook for Cambodia’s economy, the Asian Development Bank (ADB) projects a growth rate of 6.1% for 2025 and 6.2% for 2026. The positive forecast, detailed in the Asian Development Outlook released on 9 April, highlights a steady trajectory driven primarily by robust external demand for manufactured goods and the ongoing recovery of […]